Wealth Management Internship
Hello, I’m a senior in highschool who wants to go into high finance, specifically would like to end up in PE/HF in the long-run given my passion for investing, though I understand the common route of IB to get there ofc.
I had an internship at a family office specializing in alternatives last year and through another connection, I am going to interview for a summer internship with another wealth management advisory firm also specializing in alternatives I believe.
My question is: does this at all hurt me for IB/PE recruiting as a freshman/sophomore in college and how much would it help? I imagine it would only help and that first question is pretty stupid, but I am not doing this internship purely to get another, my passion for finance is genuine and I really find many roles interesting and had a great experience in my last internship. Just given this will likely be a similar role to my last, I am wondering how much it will help/hurt in college recruiting. I am also doing other stuff of course in finance involving writing articles and student funds so definitely not banking on this or anything.
Sorry as this is likely a stupid question, thought it doesn’t hurt to ask.
Hey there! First off, there's no such thing as a stupid question, especially when it comes to navigating the complex world of finance. Your proactive approach and genuine passion for finance are commendable. Based on the most helpful WSO content, let's dive into how your wealth management internship experience might play out in your journey towards IB/PE.
Early Exposure to Finance: Your internships, including the one at a family office and the upcoming wealth management advisory firm, are fantastic early exposures to the finance world. These experiences are valuable because they show your early interest and initiative in the field. This is a positive signal to future recruiters.
Relevance to IB/PE Recruiting: While wealth management and alternatives are not directly the same as investment banking or private equity, the skills and knowledge you gain can be very relevant. Understanding different financial instruments, client management, and market analysis are transferable skills that can be highlighted during your IB/PE recruiting process.
Networking and Learning: Internships in wealth management, especially those focusing on alternatives, can provide you with a unique perspective on investment strategies that can be appealing to IB/PE firms. Moreover, the networking opportunities with professionals in the field can be invaluable for future opportunities.
Complement with Additional Experience: You mentioned being involved in writing articles and participating in student funds. These activities complement your internships well by showcasing your analytical skills and hands-on experience with investment decisions. It's important to continue seeking diverse experiences that build your understanding of finance from different angles.
Communicating Your Passion: When it comes time for IB/PE recruiting, how you communicate your experiences and passion for finance will be crucial. Be prepared to articulate what you learned from your wealth management internships and how those experiences have prepared you for a career in high finance. Highlight your genuine interest and how each step you've taken is part of a broader strategy towards your career goals.
In summary, your wealth management internships, coupled with your other finance-related activities, are likely to be viewed positively by recruiters in IB/PE. They demonstrate your early commitment to finance, provide you with a solid foundation of knowledge, and offer networking opportunities. Keep building on these experiences, stay curious, and continue to network within the industry. Your path is unique to you, and your genuine passion for finance will shine through in your future applications and interviews.
Sources: How to Get an Internship After Freshman or Sophomore Year, Tips for Getting an internship in Investment Banking as a freshman, Pre-Investment Banking Internship: Calling all freshmen and sophomores, Looking for advice--second internship, Does getting rejected as a sophomore hurt you as a junior?
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